Finance & Capital Management

Francesca’s Holdings Corp. posted better-than-expected sales and earnings for its second quarter, helped in part by higher online sales.   The retailer reported a profit of $10.6 million, or 27 cents a share, compared with a profit of $9.3 million, or 22 cents a share, in the year-ago period.      Sales increased 9% to $115.3 million, helped by a net gain of 44 stores over the year-ago period. Online sales rose 37%.    

Pacific Sunwear of California Inc. has won court approval to exit Chapter 11 bankruptcy.   The chain’s reorganization plan was approved by the court on Tuesday. Under the plan, the chain will give all its stock to affiliates of private equity firm Golden Gate Capital, its senior lender.   

A newly formed developer called the Maker Bros. has announced plans to build a $150 million mixed-use project in South Austin, Texas, christened the Saint Elmo Market District.   A 40,000-sq.-ft. former school bus factory on the site will be converted into and indoor-outdoor marketplace that will serve as the new home of the Saxon Pub, a celebrated live music hall in Austin. Maker Bros. has apportioned 100,000 sq. ft. of the site for office space, a boutique hotel, and condos.  

Photo: Noel Mannion   Noel Mannion, who spent the bulk of his career with the National Realty & Development Corp., has been named the Purchase, New York-based company’s executive VP of property operations.   Mannion, previously managing director of operations, will be responsible for overseeing budgeting, maintenance, repair and improvement projects, billing, lease administration, and risk management for NRDC’s portfolio of more than 78 projects in 14 states.  

Aeropostale Inc. will live to see another day after all.    A consortium, including Simon Property Group Inc. General Growth Properties Inc. and Authentic Brands Group, won the bankruptcy auction for Aeropostale Inc. The group, which also includes liquidators Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC,  plans to keep at least 229 of the teen retailer’s stores up and running along with Aeropostale's e-commerce business and  international licensing business.   

A new beauty format aimed at men is expanding through franchising.   Hammer & Nails | Grooming Shop for Guys announced it has sold franchise rights for 27 locations in Sacramento, California and in the San Francisco Bay Area, and for 55 franchises in Texas and New Mexico.  

Hanjin Shipping Co., the world’s seventh-largest container shipper, is working to ease the potential cargo chaos caused by its bankruptcy filing last week.    The filing rose concerns among some of the nation’s biggest retailers that some merchandise may not arrive in time for the crucial holiday season, blooomberg.com reported.  

Johnson Controls has completed its merger with Tyco.   By uniting Johnson Controls, a leading provider of building efficiency solutions with Tyco, a leading provider of fire and security solutions, the new company is positioned as a leader in products, technologies and integrated solutions for the buildings and energy sectors.